The national Jewson builders merchants chain is being sold in a £740 million deal.
European building materials distributor Stark Group has acquired the business from Compagnie de Saint-Gobain SA. The transaction is expected to close in the spring of 2023.
Jewson is being sold as part of a job lot of companies including Gibbs & Dandy and JP Corry in Northern Ireland, specialist brands Jewson Civils Frazer and Minster, as well as International Timber.
They make up Saint-Gobain Building Distribution Limited, which is headquartered in Long Eaton, in Derbyshire, and which is set to have net sales of around £2.3 billion this year.
Denmark-based Stark Group said the acquisition will take its total annual net sales to around EUR 9 billion (or £7.74 billion). In a statement it said it had doubled net sales through organic growth and acquisitions since 2019 when it acquired Saint-Gobain’s German distribution business.
Jewson has branches across the UK supplying trades people with building materials, roofing and landscaping products. It also has kitchen and bathroom showrooms and provides tool hire services as well as click and collect services.
Stark Group chief executive Søren P. Olesen said: “We have a strategy that successfully focuses on professional craftsmen and the renovation and maintenance market, which this acquisition fits very well into.
“In 2019, we bought Saint-Gobain’s German distribution business, and there are many similarities in this acquisition.
“We will do our utmost to develop, grow and invest in the company making it the professional craftsmen’s preferred choice.
“Despite the current tough macro-economic environment, the fundamental drivers for the renovation and maintenance market in the UK are attractive.
“We are facing a challenging transition year, but it is a solid company that we can make thrive and grow.
“The more than 600 branches and distribution centres are in good locations across the entire UK. We will invest in the business, the people, and the distribution. We have acquired a company with whom we can continue our growth journey.”
In a statement Jewson said: “The planning for this transition is underway and our aim is to make sure that the transition is seamless and smooth for our customers.
“There is no change for now. Jewson continues to operate and trade as normal and we remain on hand to support you with all your needs as before – no change.”
